Egypt to host Real Estate Summit on Sept. 14-16
Minister of Investment Ashraf Salman - YOUM7

CAIRO: Egypt is scheduled to host the Real Estate Summit at the Four Seasons Nile Plaza Hotel in Cairo Sep. 14-16, Youm7 reported Saturday.

The summit is under the auspices of Egypt’s ministries of housing, investment and supply; the ministers of the aforementioned ministries, Mostafa Madbouly, Ashraf Salman and Khaled Hanafy, respectively, are to give keynote speeches in the summit.

The summit this year is expected to tackle the latest developments of the real estate industry in Egypt and the future strategies adopted by the country to develop that sector.

Moreover, the summit is to discuss the problem of the lack of average-income housing units offered in Egypt.

According to research made by UAE real estate leading company Colliers International, the gap between offers and demands on housing units is to widen by about 500,000 additional units by 2020. An estimated 77 percent of which will be targeting average-income earners.

The fifth edition of Egypt’s Cityscape exhibition is scheduled to launch Sep. 16-19 at the Cairo International Convention Center.

The real estate sector is one of Egypt’s main contributors to economic growth, affecting more than 90 industries .The sector represented 4.6 percent, or 80 billion EGP (U.S. $11.5 billion,) of the GDP during the fiscal year 2012/2013, and recorded a 5.9 percent growth rate.

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